Changes harmonize Spanish regulations with existing EU regulations and increase the scope of acceptable investment activities for closed-ended investment entities.

Introduction -

On 12 November 2014 the Spanish Parliament enacted new law 22/2014, regulating venture capital and private equity entities, other closed-ended investment entities and investment managers for closed-ended investment entities (Law 22/2014) in order to harmonize the Spanish regulation with Directive 2011/61/EU, of the European Parliament and of the Council of 8 June 2011, on alternative investments fund managers (AIFMD).